28 January 2010

Bankers Refute Drastic Changes

In Davos (Switzerland) the World Economic Forum is well under way. Day one (yesterday) kicked off with some firey talks between bankers and UK and US administrations.

Big banks are certainly willing to refute that making them smaller will fix the world economic calendar, in particular the way in which large western economies conduct their financial sectors. Yet leaders from the US, UK and now France are all on course to fight a tough battle to make major changes.

Meanwhile, the pound continues a strong performance against the still-suffering euro. How long will Greece's fiscal problems weigh heavy on the Eurozone single currency? Apparently, now Portugal is also beginning to add pressure to the euro.

Critics of the single currency spanning such varying economies will be surely having a field day (or week, even month)!